unrelated to given vocations, seem frequently to yield relatively return. We cannot readily assume that we can inject educational rvest productivity outputs at the other end of the pipeline.*
education and information, but much more elusive, are the sible for technological change—especially entrepreneurial capac-.ovation rate will depend on the perception and the ability to ;e of economic opportunities, and hence on entrepreneurial camming to some assumptions discussed earlier, we might recall iputs necessary for production are marketed and that some are
to all individuals. Hence, only some people are entrepreneurs, ly to be the ones who are able to fill the gaps in necessary inputs ' creating substitutes for unavailable inputs, and, in general, are irm as "input completers."' Once again entrepreneurship is an
and not easily augmented in the sense in which traditional >mentable. point of the previous remarks is that, although with the tradi-
we were able to rely on a production function which is a
Despondence, in the sense that if we add something tangible to
inputs, we can visualize obtaining at the other end a tangible
; we deal with the nontraditional inputs, we can no longer have
i such simple input-output relationships.
CONJECTURES AND CONCLUSIONS
i sense human investment—the activities that create the essential ic acquired economically valuable qualities of the work force-critical element which determines whether or not population ly particular case has adverse economic consequences. Even the ipital accumulation is not a mechanical one. Obviously entrepre-ties (which are for the most part acquired qualities) are essential :he process. Economic growth requires more than the accumula-:al goods of the type already in use. New types of productive have to be created; new occupations learned, induced, generated, i new contexts and locations; new types of risks have to be 1, to some degree, new social and economic relationships have to lence, the characteristics of the population that are transmitted tion to generation through nurture and education become the that determine the rate of growth. But the transmission of such :s does not result in a replica of the previous generation's occupa-and attitudinal characteristics. The transmission process creates , for change.
mary of existing knowledge in this area sec Bowles (29). ;r treatment of these matters sec the author's (30).eneral types of education, which frequently